Netflix Drama to Continue

Despite Carl Icahn acquiring near 10% of the video-streaming and DVD rental company's beaten down stock, bottom-fishers should be wary.

Activist investor Carl Icahn has placed a bold bet on Netflix (NFLX) shares. But those who are tempted to follow his lead should instead scoop up shares of one of his other recent picks.

The problem with Netflix isn't an ambitious price so much as an uncertain future. Shares sell for about $78, up from $62 since Wednesday on news that Icahn has taken a near 10% stake, but they're well below the all-time high of over $300 hit in...